Shares of athenahealth (ATHN-2.1%) dip on the back of today's earlier announcement that PSS Worldwide (PSSI+33%) had agreed to be acquired by McKesson (MCK+4%). PSSI currently sells ATHN's services to physicians, and investors appear to be concerned that the relationship is likely to be derailed over the long-term, despite MCK's assertion that it doesn't plan to immediately "distort or dismantle" any of PSS's relationships "without careful evaluation."

More on Collective Brands (PSS): Q2 misses across the board on flat revenue Y/Y. 2.9% Comp store sales +2.9%, sales growth +6.1% in the Performance + Lifestyle Group Wholesale segment, which was offset in large part by operating 375 fewer stores.

More on Collective Brands (PSS): Q1 beats on both EPS and revenue estimates. Net sales rose 5% to $912M, driven by an 8/1% jump in comp store sales, and sales growth of 8.3% in its Performance + Lifestyle Group wholesale segment. Bottom line margins also benefited from lower SG&A expenses. Shares +0.3% AH.

Collective Brands (PSS) will get sliced up into two after a consortium bought the company for $2B. Wolverine Worldwide (WWW) will end up with the Sperry, Keds, Saucony, and Stride Rite brands - while Blum Capital and Golden Gate Capital will get Payless and Collective Licensing International.

|May 2, 2012, 7:39 AM

May 1, 2012, 9:38 AM

Collective Brands (PSS) gets snapped up by a consortium led by Wolverine World Wide Group (WWW+1.1%) and Golden Gate Capital for $21.75 a share after word leaked yesterday that a deal was in the works. PSS +2.2% to $21.21.

|May 1, 2012, 9:38 AM|1 Comment

Apr. 30, 2012, 3:12 AM

Collective Brands (PSS) has apparently picked Wolverine World Wide (WWW) and Golden Gate Capital as the leading group to buy the company, with sources saying an acquisition could be announced as soon as this week at $21-22 per share.

|Apr. 30, 2012, 3:12 AM

Apr. 24, 2012, 12:10 PM

Collective Brands (PSS+3.9%) is weighing final offers to sell itself to South Korea's E-Land or Wolverine World Wide (WWW-0.4%), Bloomberg reports. The Payless Shoe parent has attracted at least one bid valued at ~$2B; PSS is said to plan to make a decision on the bids in the coming days.

Payless Shoes parent Collective Brands (PSS) is poised to sell itself for less than any apparel retailer in America - $20-$22/share - which appears to be the best price it can get, Bloomberg reports. While the range is more than double PSS’s price since it began reviewing its options in August, a buyer would get the retailer at a 62% discount to sales.

Collective Brands (PSS) +10.1% premarket following a Korean business newspaper report that South Korean retailer E-land is planning a $1.8B bid for the owner of Payless and Stride Rite shoe stores. PSS had announced last August plans to shutter underperforming stores and conduct a strategic review.